OfflineSo far now after a month I have about 5-6 cash buyers for single family homes from 100k - 150k after repairs but the ONLY thing that is stopping me now from persueing is figuring out the amount it takes to repair each thing. I dont want under price it because then the person that buys from me (im doing assingments now) will not want to do business again and feel cheated. And I dont want to overprice it so the person Im buying from doesnt think im taking advantage of him to lower the price a lot.
What can I do to know what to charge for each thing to repair, doesnt have to be every exact thing just only the major things. Some people say to just guess it. If its new carpet its 5k, if new kitchen cabinet 5k so forth and so on.
Any suggestions on where to learn and/or how you learned to do this?
Funny thing, I actually asked my boss this question. He and his wife own a business. Spoke to him about getting involved in REI. He said get quote from local contractors. I know that Dean has a spreadsheet you can download in the "forms and docs" tab on the left. How about this one. I'm trying to find a quote on demolishing a property in my neighborhood because a it looks like there was a fire. But location is one of the best in my area. So thats something I plan om figuring in with my math. I know this place will be worth 10 times more once a new building it put in its place. So lets see. Best of luck.
Josh
Josh
"The best is yet to come."
"Never let someones opinion become your reality"
here's a link to a thread about cost estimates that you may find helpful.
http://www.deangraziosi.com/real-estate-forums/everything-else/18298/sys...
wishing you success,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...